Polymer Capital Management HK LTD Boosts Stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Polymer Capital Management HK LTD grew its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 637.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,000 shares of the company’s stock after acquiring an additional 153,000 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Terns Pharmaceuticals were worth $981,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TERN. Landscape Capital Management L.L.C. acquired a new stake in Terns Pharmaceuticals during the 4th quarter worth approximately $73,000. Savant Capital LLC acquired a new stake in shares of Terns Pharmaceuticals in the fourth quarter worth $89,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Terns Pharmaceuticals by 33.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock valued at $100,000 after acquiring an additional 4,475 shares during the period. Stoneridge Investment Partners LLC purchased a new position in shares of Terns Pharmaceuticals in the 4th quarter valued at $114,000. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of Terns Pharmaceuticals during the 4th quarter valued at $123,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Stock Down 9.9 %

TERN opened at $2.10 on Monday. The firm’s 50 day moving average is $3.69 and its 200-day moving average is $5.59. Terns Pharmaceuticals, Inc. has a 52-week low of $1.96 and a 52-week high of $11.40. The firm has a market capitalization of $183.33 million, a P/E ratio of -1.78 and a beta of -0.13.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.06. Equities analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, William Blair reissued a “market perform” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.38.

Terns Pharmaceuticals Profile

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule product candidates for the treatment of oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in phase 1 clinical trial for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.